Mumbai: Equity benchmark Sensex rallied over 350 points in early commerce on Monday, monitoring good points in index majors HDFC twins, ICICI Bank and Kotak Bank amid largely constructive cues from international markets.
The 30-share BSE index was buying and selling 353.64 points or 0.72 per cent increased at 49,560.11 in preliminary offers.
Similarly, the broader NSE Nifty surged 114.85 points or 0.77 per cent to 14,938.
Dr Reddy’s was the highest gainer in the Sensex pack, rising over 2 per cent, adopted by ONGC, HDFC, IndusInd Bank, ICICI Bank, Sun Pharma and Kotak Bank.
On the opposite hand, UltraTech Cement, Bajaj Finance, Nestle India and Infosys have been among the many laggards.
In the earlier session, Sensex climbed 256.71 points or 0.52 per cent to complete at 49,206.47, and Nifty rose 98.35 points or 0.67 per cent to 14,823.15.
Foreign institutional buyers (FIIs) have been internet sellers in the capital market as they offloaded shares price Rs 1,142.75 crore on Friday, in response to provisional change knowledge.
“Domestic equities look good at the moment. Favourable global cues, steady March quarter earnings along with favourable commentary, liquidity support announced by the RBI and absence of nationwide lockdown have aided domestic equities to shrug off rising COVID-19 cases in the country,” stated Binod Modi, Head Strategy at Reliance Securities.
However, elevated each day caseload, increased positivity charge and rising COVID-19 instances in hinterlands of the nation are anticipated to weigh on buyers’ sentiments and can stop the market from taking any decisive upmove, he added.
Elsewhere in Asia, bourses in Shanghai, Tokyo and Seoul have been buying and selling on a constructive notice in mid-session offers, whereas Hong Kong was in the purple.
Meanwhile, worldwide oil benchmark (*350*) crude was buying and selling 0.44 per cent increased at USD 68.58 per barrel.Â
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